one8zero8 LLC Buys New Shares in Celanese Co. (NYSE:CE)

one8zero8 LLC purchased a new position in Celanese Co. (NYSE:CE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,125 shares of the basic materials company’s stock, valued at approximately $701,000.

Several other institutional investors have also added to or reduced their stakes in the business. Freedom Investment Management Inc. increased its stake in shares of Celanese by 3.2% in the third quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock worth $715,000 after buying an additional 161 shares during the period. CKW Financial Group increased its position in shares of Celanese by 52.9% in the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares during the period. Blue Trust Inc. boosted its holdings in shares of Celanese by 15.0% during the fourth quarter. Blue Trust Inc. now owns 1,476 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 192 shares during the period. UMB Bank n.a. grew its stake in shares of Celanese by 103.7% in the fourth quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares during the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Celanese by 43.2% during the 4th quarter. CENTRAL TRUST Co now owns 670 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 202 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on CE shares. Mizuho dropped their price objective on Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. JPMorgan Chase & Co. cut their price target on shares of Celanese from $92.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Piper Sandler reduced their price objective on shares of Celanese from $77.00 to $50.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. BMO Capital Markets cut their target price on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research note on Thursday, February 20th. Finally, UBS Group decreased their price target on shares of Celanese from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.31.

Celanese Stock Up 7.5 %

CE stock opened at $57.10 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The business has a 50 day moving average of $63.63 and a 200 day moving average of $88.74. Celanese Co. has a twelve month low of $45.94 and a twelve month high of $172.16. The firm has a market cap of $6.24 billion, a PE ratio of -4.10, a price-to-earnings-growth ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last posted its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. On average, research analysts forecast that Celanese Co. will post 8.79 EPS for the current fiscal year.

Celanese Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend was Tuesday, February 25th. Celanese’s dividend payout ratio (DPR) is currently -0.86%.

Celanese Company Profile

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.